Cryptocurrency Market Erases Gains from US Presidential Election

The cryptocurrency market's performance in recent months has been marked by significant volatility. The Total3 indicator, which tracks the total crypto market capitalization excluding Bitcoin and Ethereum, surged 91% after the US presidential election.

However, since then, the market has experienced a prolonged decline with no convincing recovery. As a result, the Total3 indicator has dropped to $713 billion, matching its level from November 10, 2024.

This represents a complete retracement of the post-election expansion, which lasted for several months before eventually failing. The collapse of the upward structure triggered a decline with no convincing recovery so far.